Energy bills could soar by £1,300 this autumn, analysts warn

ENERGY bills set to skyrocket by nearly £1,300 this October, says alarming analysis.

In a massive blow to the struggling Brits, the price cap is expected to rise from £1,971 to a dismal record of £3,244.

1

That’s a 64 percent increase in just six months.

And they are expected to rise again next January to £3,363 a year.

Money saving expert Martin Lewis commented: “It’s appalling. Especially as we are now approaching the end of the evaluation period that sets the October cap, so this is the right place to start.”

It’s a far bigger jump in costs than anyone predicted and more bailouts are needed from the government to help families, he added.

dr Craig Lowrey of energy market analyst Cornwall Insight, who compiled the figures, warned: “It looks like energy consumers are in for a very expensive winter.

“There is always some hope that the market will stabilize and pull back in time for the January cap to be set.

“However, with the October cap just a month away, high wholesale prices are already being baked into the figure, with little hope of relief from projected high energy bills.”

Government sources confirmed that the cap will rise by more than anyone had predicted.

Earlier this week the Bank of England said No11 needs to raise billions more in another bailout to prevent Britons from drowning in debt.

Inflation is already at a 40-year high of 9 percent and is expected to get worse.

But amid the livelihood crisis, the Tories are embarking on a leadership race to choose the next prime minister.

New Chancellor Nadhim Zahawi is unlikely to make any major tax and spending decisions until Boris Johnson’s successor is elected.

This is not expected to be before September.